Update: apparently the image was simply a placeholder, and the name of the console has been announced as a simpler Xbox One X.

You can read the original article below.

A few hours before Xbox's E3 press conference, leaks and rumors about the new console code named "Project Scorpio" are raining like it was monsoon season.

Coming from a Best Buy newsletter is the image above, which hints to the possibility that the console might get to retain its code name "Scorpio," and might simply be called "Xbox Scorpio. "

Given the buzz received by the console since the official announcement last year, it certainly wouldn't be a bad idea keep the name, even considering the fact that Xbox executives have played with the scorpion imagery every since. Fans certainly appreciated it, and it's also quite cool, so what's not to love?

Of course, the possibility exists for the name to be a placeholder, so we should consider this a rumor and take it with the customary grain of salt.

That said, I personally consider it rather likely, and have gone on record multiple times with my belief that retaining the "Scorpio" in the name was the best choice.

Luckily, we don't have to wait long, since we already know that the console will be unveiled at the beginning of the press conference. The show will begin at 2 PM PDT or 5 PM EDT.

Earlier today, YouTube Live and E3 Coliseum host Geoff Keighley mentioned that he is “confident” that the console will cost $499.

Project Scorpio has been partly revealed back in April, showing off some very impressive hardware, including 6 teraFLOPS of computing power and 12 gigabytes of RAM.

About a week ago, Microsoft gave a sneak peak on the console’s devkits, which are even more powerful than the retail kit, in order to give development studios some headroom to work with.

Yesterday, during its own press conference, Electronic Arts showcased a few images of Madden NFL 18 rendered Project Scorpio, mentioning that it’s a powerful platform coming at the right time.